ZCG-Backed Twin Star Home Acquires Grand Basket, Strengthening Omnichannel Leadership in Outdoor Products
Twin Star Home ("Twin Star" or the "Company"), the omnichannel market leader in award-winning indoor and outdoor home furnishings, today announced the acquisition of Grand Basket, a leading provider of outdoor patio furniture and accessories in North America. Twin Star is a portfolio company of Z Capital Partners, L.L.C., the private equity arm of Z Capital Group, L.L.C. ("ZCG"), a leading privately held merchant bank. Terms of the transaction were not disclosed.
Founded in 1962, Grand Basket, based in Colorado, is a leader in high-quality patio furnishings and accessories, bolstered by a market-leading private label business. The acquisition of Grand Basket strengthens Twin Star's leadership as an e-commerce-driven home furnishings and outdoor living platform across North America. The addition of Grand Basket builds upon Twin Star's prior expansion into outdoor lifestyle products through the acquisitions of TK Classics in January 2020 and Classic Accessories in June 2021.
"We are excited to add Grand Basket to the Twin Star family and enhance our leadership in indoor and outdoor home furnishings," said Mark A. Gold, Twin Star's Chief Executive Officer. "Grand Basket has a long legacy of developing high-quality outdoor products that empower consumers to make the best of their outdoor environments. We look forward to welcoming the Grand Basket team and leveraging our combined talent to drive continued growth. This acquisition builds upon our foundation and further differentiates Twin Star in delivering unrivaled design, quality and innovation to our retail partners and end consumers."
"Twin Star's strategic acquisition of Grand Basket is both exciting and opportune at this important moment in the Company's journey," said James Zenni, Founder, President and Chief Executive Officer of ZCG. "We are pleased to welcome the Grand Basket team and see this transaction propelling Twin Star to new heights within the outdoor product sector by accelerating their commitment to delivering exceptional value and driving continued innovation."
Grand Basket will maintain operations in Denver, Colorado, while the combined company will be headquartered in Boca Raton, Florida.
About Twin Star Home
Twin Star Home is a leading omnichannel, consumer-driven designer and manufacturer of indoor and outdoor living products to enhance the home experience. Twin Star Home's award-winning designs of functional, beautiful, and affordable product lines include furnishings for the living room, home office and bathroom, many with integrated technology and media solutions. Outdoor living products include modular seating collections, dining tables, bars, fire pits and accessories. Twin Star Home is a pioneer in the transformation of the home furnishings business model with borderless, leading e-commerce platforms and traditional retailing. Twin Star Home holds hundreds of product, design and technology patents and combines the latest trends with consumer-driven innovation. Twin Star Home's mission is to create products that enhance the consumer home experience. Consumers and retailers alike recognize Twin Star Home for its trusted national brands: ClassicFlame®, TK Classics®, Classic Accessories®, Bell'O®, Duck Coverstm, Tresanti®, ChimneyFree® and licensed brand partnerships with Duraflame®, kathy ireland® Homes & Garden, Vera Bradley, John Deere, Craftsman, and Frida Kahlo. Find out more at www.twinstarhome.com.
Twin Star is a portfolio company of Z Capital Partners, L.L.C., the private equity arm of Z Capital Group, L.L.C. ("ZCG"), a leading privately held merchant bank.
About Grand Basket
Founded in 1962, this Colorado-based company is dedicated to providing consumers with a premium outdoor experience. For over six decades, Grand Basket has grown from a simple basket manufacturer into a leading outdoor furniture producer with best-in-class capabilities, distribution channels, and portfolio of product offerings. As a key partner to its retail customers, Grand Basket offers a vast assortment of unique styles across a variety of categories and price points to enhance the end consumers' outdoor living experience.
The Grand Basket portfolio of outdoor furniture, accessories, and lighting is specifically curated with value, style, quality, and comfort in mind.
Grand Basket's products are sold through leading brick-and-mortar and e-commerce retail partners across North America as well as direct to consumer. Grand Basket also produces private label programs for several national brands and retailers. For more information, visit www.grandbasketco.com.
About ZCG
ZCG is a leading, privately held merchant bank comprised of private markets asset management, business consulting services, technology development and solutions.
For almost 30 years, ZCG Principals have invested tens of billions in capital and have industry leading track records in private equity and credit.
ZCG has approximately $7B of AUM in asset management and its investors are some of the largest and most sophisticated global institutional investors including pension funds, endowments, foundations, sovereign wealth funds, central banks, and insurance companies.
ZCG has a global team comprised of over 400 professionals. For more information, please visit www.zcg.com.
News published on and distributed by:
